Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
THE BRIGHT FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)C/O DM KELLY CO 3900 INGERSOLL AVENO 302Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DES MOINES, IA50312
A Employer identification number

42-6073848
B Telephone number (see instructions)

(515) 221-1133
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$30,220,656J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule).............. 10,844,667
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 1,143,355 1,112,886  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,888,256
b Gross sales price for all assets on line 6a 14,194,315
7 Capital gain net income (from Part IV, line 2)... 2,888,256
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 14,876,278 4,001,142 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 20,400 10,450 0 10,450
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 6,359 3,179 0 3,180
b Accounting fees (attach schedule)....... Click to see attachment 17,408 8,704 0 8,704
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 32,571 0 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 10,980 5,490 0 5,490
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 25,154 2,525 0 22,629
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 112,872 30,348 0 50,453
25 Contributions, gifts, grants paid........ 1,065,373 1,065,373
26 Total expenses and disbursements. Add lines 24 and 25 1,178,245 30,348 0 1,115,826
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 13,698,033
b Net investment income (if negative, enter -0-) 3,970,794
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 967,949 960,458 960,458
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 13,436,274 Click to see attachment27,141,798 29,260,198
14 Land, buildings, and equipment: basis bullet318
Less: accumulated depreciation (attach schedule) bullet318      
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 14,404,223 28,102,256 30,220,656
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 14,404,223 28,102,256
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see instructions)...... 14,404,223 28,102,256
31 Total liabilities and net assets/fund balances (see instructions).. 14,404,223 28,102,256
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 14,404,223
2 Enter amount from Part I, line 27a..................... 2 13,698,033
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 28,102,256
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 28,102,256
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a VANGUARD 500 INDEX ADM P 2014-01-14 2014-11-26
b VANGUARD BD INDEX ADMRL P 2014-01-14 2014-11-26
c VANGUARD DVD APPREC ETF P 2014-01-14 2014-11-26
d VANGUARD EQUITY INCOM-AD P 2014-01-14 2014-11-26
e VANGUARD 500 INDEX ADM P 2014-01-14 2014-11-26
VANGUARD BD INDEX ADMRL P 2014-01-14 2014-11-26
VANGUARD DVD APPREC ETF P 2014-01-14 2014-11-26
VANGUARD EQUITY INCOM-AD P 2014-01-14 2014-11-26
3M CO P 2011-12-29 2014-01-09
3M CO P 2012-01-03 2014-01-09
3M CO P 2012-11-29 2014-01-09
ABBOTT LABORATORIES P 2009-10-05 2014-01-09
ABBOTT LABORATORIES P 2011-04-07 2014-01-09
ABBOTT LABORATORIES P 2012-01-26 2014-01-09
ABBOTT LABORATORIES P 2012-11-29 2014-01-09
ABBVIE INC P 2011-04-07 2014-01-09
ABBVIE INC P 2012-01-26 2014-01-09
ABBVIE INC P 2012-11-29 2014-01-09
ABBVIE INC P 2009-10-05 2014-01-09
AEGON N.V. 6.875% PFD P 2006-06-23 2014-01-09
AEGON NV 8% NON-CUML PFD P 2012-01-24 2014-01-09
AEGON NV 8% NON-CUML PFD P 2012-01-24 2014-01-09
ALLIANT ENERGY CORP P 1996-09-01 2014-01-09
AMEREN CORP P 2003-05-15 2014-01-09
AMEREN CORP P 2004-05-13 2014-01-09
AMERICAN EQUITY INV LIFE P 2000-04-03 2014-01-09
AT&T INC P 2012-01-03 2014-01-09
AT&T INC P 2012-01-26 2014-01-09
AT&T INC P 2012-02-29 2014-01-09
AT&T INC P 1996-09-01 2014-01-09
AT&T INC P 1996-09-01 2014-01-09
AT&T INC P 1996-09-01 2014-01-09
AUTOMATIC DATA PROCESSIN P 2011-12-29 2014-01-09
AUTOMATIC DATA PROCESSIN P 2012-01-03 2014-01-09
AVIVA PLC 8.25% PFD P 2011-11-17 2014-01-09
AVIVA PLC 8.25% PFD P 2011-11-17 2014-01-09
BARCLAYS BK PLC 7.1O% P 2007-09-07 2014-01-09
BECTON DICKINSON CO P 2011-12-29 2014-01-09
BECTON DICKINSON CO P 2012-01-26 2014-01-09
BECTON DICKINSON CO P 2012-09-28 2014-01-09
BEMIS CO INC P 2011-12-29 2014-01-09
BEMIS CO INC P 2012-01-03 2014-01-09
BEMIS CO INC P 2012-09-28 2014-01-09
BRISTOL MYERS SQUIBB P 2012-08-24 2014-01-09
BRISTOL MYERS SQUIBB P 2012-09-28 2014-01-09
BRISTOL MYERS SQUIBB P 2012-11-27 2014-01-09
C H ROBINSON WORLDWIDE P 2012-07-26 2014-01-09
C H ROBINSON WORLDWIDE P 2012-08-22 2014-01-09
C H ROBINSON WORLDWIDE P 2012-09-28 2014-01-09
CATERPILLAR INC P 2012-12-05 2014-01-09
CHICAGO IL 6.09%1/1/2023 P 2004-12-03 2014-01-08
CHICAGO IL 6.09%1/1/2023 P 2006-01-12 2014-01-08
CHICAGO IL6.207%01/01/32 P 2011-12-30 2014-01-08
CINCINNATI FINANCIAL CO P 2012-09-06 2014-01-09
CINCINNATI FINANCIAL CO P 2012-11-27 2014-01-09
CLOROX COMPANY P 2012-09-28 2014-01-09
CLOROX COMPANY P 2012-11-29 2014-01-09
CONOCOPHILLIPS P 2012-11-30 2014-01-09
CONSOLIDATED EDISON INC P 2003-05-15 2014-01-09
CONSOLIDATED EDISON INC P 2004-05-13 2014-01-09
CUMMINS INC P 2011-12-29 2014-01-09
CUMMINS INC P 2012-01-03 2014-01-09
CUMMINS INC P 2012-09-28 2014-01-09
DEERE CO P 2011-12-29 2014-01-09
DEERE CO P 2012-08-22 2014-01-09
DEERE CO P 2012-09-06 2014-01-09
DEUTSCHE BANK 7.60% PFD P 2008-02-13 2014-01-09
DOUGLAS NE 7.34%07/01/28 P 2010-12-16 2014-01-09
DU PNT EI DE NEMOURS CO P 2011-12-29 2014-01-09
DU PNT EI DE NEMOURS CO P 2012-01-03 2014-01-09
DU PNT EI DE NEMOURS CO P 2012-09-28 2014-01-09
DU PNT EI DE NEMOURS CO P 2012-11-27 2014-01-09
EATON CORP PLC P 2012-12-03 2014-01-09
EMERSON ELECTRIC CO P 2011-12-29 2014-01-09
EMERSON ELECTRIC CO P 2012-01-03 2014-01-09
EMERSON ELECTRIC CO P 2012-09-28 2014-01-09
ENSCO PLC CL A P 2012-01-26 2014-01-09
EXXON MOBIL CORP P 1996-09-01 2014-01-09
FLUOR CORP (NEW) P 2011-12-29 2014-01-09
FLUOR CORP (NEW) P 2012-01-03 2014-01-09
FLUOR CORP (NEW) P 2012-09-28 2014-01-09
FLUOR CORP (NEW) P 2012-11-29 2014-01-09
FNR 93-247 VAR% 12/25/23 P 2002-02-07 2014-01-09
FORD MOTOR COMPANY P 2012-11-29 2014-01-09
FORD MOTOR COMPANY P 2011-12-29 2014-01-09
FORD MOTOR COMPANY P 2012-01-03 2014-01-09
GENERAL ELECTRIC COMPANY P 2011-12-29 2014-01-09
GENERAL ELECTRIC COMPANY P 2012-01-03 2014-01-09
GENUINE PARTS CO COM P 2012-09-28 2014-01-09
GENUINE PARTS CO COM P 2011-12-29 2014-01-09
GENUINE PARTS CO COM P 2012-01-03 2014-01-09
GLACIER BANCORP INC P 2000-11-15 2014-01-09
GN II 3040 7% 2/20/31 P 2004-01-28 2014-01-09
GNMA 311436 8% 04/15/22 P 2004-12-27 2014-01-09
GNMA 357841 7% 08/15/23 P 2004-12-27 2014-01-09
HNI CORP P 2011-12-29 2014-01-09
HNI CORP P 2012-01-26 2014-01-09
HNI CORP P 2012-01-03 2014-01-09
ING GROEP NV 6.375% PFD P 2007-06-12 2014-01-09
JOHNSON JOHNSON P 2011-12-29 2014-01-09
JOHNSON JOHNSON P 2012-01-26 2014-01-09
JOHNSON JOHNSON P 2012-09-28 2014-01-09
JPMORGAN CHASE CO P 2012-02-21 2014-01-09
JPMORGAN CHASE CO P 2012-08-22 2014-01-09
JPMORGAN CHASE CO P 2012-09-06 2014-01-09
LACLEDE GAS 7% 6/1/29 P 2006-08-16 2014-01-09
LANSING MI 0.0%05/01/28 P 2011-12-30 2014-01-08
MDU RESOURCES GROUP P 1999-11-30 2014-01-09
MDU RESOURCES GROUP P 2011-04-07 2014-01-09
MDU RESOURCES GROUP P 2012-09-06 2014-01-09
MDU RESOURCES GROUP P 2000-03-23 2014-01-09
MEDTRONIC INC P 2011-12-29 2014-01-09
MEDTRONIC INC P 2012-01-03 2014-01-09
MEDTRONIC INC P 2012-11-30 2014-01-09
MMI CAP TR I 7.625% P 2001-08-24 2014-01-09
MMI CAP TR I 7.625% P 2003-12-11 2014-01-09
MMI CAP TR I 7.625% P 2005-10-27 2014-01-09
NORTHERN IL 6.58%2/15/28 P 2003-04-17 2014-01-09
NORTHERN IL7.62%01/01/30 P 2011-06-22 2014-01-09
NOVARTIS AG P 2011-12-29 2014-01-09
NOVARTIS AG P 2012-01-03 2014-01-09
NOVARTIS AG P 2012-01-26 2014-01-09
OMAHA NE 7.125%08/01/40 P 2010-12-14 2014-01-09
OMAHA NE 7.125%08/01/40 P 2012-07-13 2014-01-09
PAYCHEX INC P 2011-12-29 2014-01-09
PAYCHEX INC P 2012-01-03 2014-01-09
PAYCHEX INC P 2012-11-27 2014-01-09
PRINCIPAL FINANCIAL GR P 2011-12-29 2014-01-09
PRINCIPAL FINANCIAL GR P 2012-01-03 2014-01-09
PRINCIPAL FINANCIAL GR P 2012-09-28 2014-01-09
QCR HOLDINGS INC P 2010-07-08 2014-01-09
QCR HOLDINGS INC P 2010-07-08 2014-01-09
QCR HOLDINGS INC P 2010-07-08 2014-01-09
ROSEMONT IL5.75%12/01/25 P 2010-12-16 2014-01-09
ROYAL BANK OF SCOTLAND P 2005-10-27 2014-01-09
RYL BK SCTLND 6.125% PFD P 2006-12-18 2014-01-09
RYL BK SCTLND 6.125% PFD P 2006-12-18 2014-01-09
SANOFI ADR P 2011-12-29 2014-01-09
SANOFI ADR P 2012-01-03 2014-01-09
SANOFI ADR P 2012-01-26 2014-01-09
STANLEY BLACK DECKER P 2012-01-26 2014-01-09
STIFEL FINCL CP 6.7% PFD P 2012-01-24 2014-01-09
STIFEL FINCL CP 6.7% PFD P 2012-01-24 2014-01-09
SYSCO CORPORATION P 2011-12-29 2014-01-09
SYSCO CORPORATION P 2012-01-03 2014-01-09
SYSCO CORPORATION P 2012-09-28 2014-01-09
TIMKEN COMPANY P 2012-11-27 2014-01-09
UNITED FIRE GRP INC P 2011-12-29 2014-01-09
UNITED FIRE GRP INC P 2011-12-29 2014-01-09
UNITED PARCEL SERVICE-B P 2011-12-29 2014-01-09
UNITED PARCEL SERVICE-B P 2012-01-26 2014-01-09
UNITED PARCEL SERVICE-B P 2012-09-28 2014-01-09
UNITED TECHNOLOGIES CORP P 2012-09-06 2014-01-09
UNITED TECHNOLOGIES CORP P 2012-09-28 2014-01-09
US BANCORP NEW P 2006-06-12 2014-01-09
US BANCORP NEW P 2012-01-26 2014-01-09
VERIZON COMMUNICATIONS P 2011-12-29 2014-01-09
VERIZON COMMUNICATIONS P 2012-01-03 2014-01-09
VERIZON COMMUNICATIONS P 2012-01-26 2014-01-09
XCEL ENERGY INC P 2002-04-11 2014-01-09
XCEL ENERGY INC P 2004-07-26 2014-01-09
8SHBOYG WI 5.000 090115 P 2013-10-26 2014-08-01
8UNIVER IA 4.000 070116 P 2013-10-26 2014-07-01
8WILLIS ND 4.000 050115 P 2013-10-26 2014-05-01
ABBOTT LABORATORIES P 2013-07-10 2014-01-09
ABBOTT LABORATORIES P 2013-07-15 2014-01-09
ABBVIE INC P 2013-07-10 2014-01-09
ABBVIE INC P 2013-07-15 2014-01-09
ALAMEDA 6.25% 10/1/2014 P 2013-10-26 2014-10-01
ALLIANT ENERGY CORP P 2013-07-15 2014-01-09
AMEREN CORP P 2013-07-15 2014-01-09
C H ROBINSON WORLDWIDE P 2013-07-15 2014-01-09
CATERPILLAR INC P 2013-07-15 2014-01-09
CHS INC 7.875% PFD P 2013-09-20 2014-01-09
CHS INC 7.875% PFD P 2013-09-20 2014-01-09
CHS INC 7.875% PFD P 2013-09-20 2014-01-09
CONSOLIDATED EDISON INC P 2013-07-15 2014-01-09
DEERE CO P 2013-07-15 2014-01-09
ENSCO PLC CL A P 2013-07-15 2014-01-09
EXXON MOBIL CORP P 2013-07-10 2014-01-09
EXXON MOBIL CORP P 2013-07-15 2014-01-09
GOLDMAN SACHS 5% 10/1/14 P 2013-10-26 2014-10-01
IA ST 1.5%07/01/14 P 2013-10-26 2014-07-01
ST UNIV IA 3.6%07/01/14 P 2013-10-26 2014-07-01
STANLEY BLACK DECKER P 2013-07-15 2014-01-09
SWSTRN IL 7.25% 8/1/2014 P 2013-10-26 2014-08-01
UNIVERSIT IA3.5%07/01/14 P 2013-10-26 2014-07-01
VANGUARD 500 INDEX ADM P 2013-12-30 2014-09-09
VANGUARD 500 INDEX ADM P 2013-12-30 2014-11-26
VANGUARD BD INDEX ADMRL P 2013-12-30 2014-11-26
VANGUARD DVD APPREC ETF P 2013-12-30 2014-11-26
VANGUARD EQUITY INCOM-AD P 2013-12-30 2014-11-26
WACHOVIA CO 5.25% 8/1/14 P 2013-10-26 2014-08-01
WEST DES 4.5% 6/1/2017 P 2013-10-26 2014-06-02
WEST DES M 4.5% 6/1/2017 P 2013-10-26 2014-06-02
XCEL ENERGY INC P 2013-07-10 2014-01-09
ZIONS BANCORP5.75% H PFD P 2013-04-29 2014-01-09
ZIONS BANCORP5.75% H PFD P 2013-04-29 2014-01-09
VANGUARD 500 INDEX ADM P 2014-01-14 2014-11-26
VANGUARD BD INDEX ADMRL P 2014-01-14 2014-11-26
VANGUARD DVD APPREC ETF P 2014-01-14 2014-11-26
VANGUARD EQUITY INCOM-AD P 2014-01-14 2014-11-26
COMPUTER EQUIPMENT P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 1,380   1,286 94
b 1,230   1,316 -86
c 1,309   1,270 39
d 2,730   2,524 206
e 4,060   3,654 406
3,570   3,677 -107
3,916   3,653 263
8,000   7,265 735
83,130   50,265 32,865
126,876   78,515 48,361
29,845   19,942 9,903
39,200   23,952 15,248
38,184   23,625 14,559
16,884   11,408 5,476
2,540   2,065 475
48,765   25,620 23,145
21,562   12,371 9,191
3,244   2,240 1,004
50,062   25,974 24,088
149,460   150,000 -540
83,405   75,000 8,405
83,384   75,000 8,384
108,361   60,117 48,244
42,512   50,072 -7,560
43,443   50,125 -6,682
122,824   40,500 82,324
12,886   11,716 1,170
17,137   15,064 2,073
138,646   126,316 12,330
4,250   2,479 1,771
46,350   32,031 14,319
79,173   32,118 47,055
74,342   50,253 24,089
115,149   78,650 36,499
92,893   85,000 7,893
71,378   65,000 6,378
50,262   50,000 262
74,530   50,252 24,278
112,018   80,214 31,804
25,251   17,852 7,399
66,814   50,258 16,556
101,848   78,345 23,503
22,338   17,605 4,733
216,731   130,418 86,313
23,461   14,663 8,798
16,580   10,070 6,510
84,089   79,800 4,289
44,847   46,054 -1,207
13,118   13,728 -610
150,824   147,483 3,341
49,645   50,000 -355
24,823   25,000 -177
112,073   126,007 -13,934
169,274   130,621 38,653
25,315   20,102 5,213
163,094   130,931 32,163
26,870   22,759 4,111
195,389   161,150 34,239
67,622   50,089 17,533
70,557   50,108 20,449
77,741   50,261 27,480
118,133   78,879 39,254
27,804   18,524 9,280
57,162   50,245 6,917
70,898   61,799 9,099
37,487   32,671 4,816
109,560   105,000 4,560
106,028   102,880 3,148
69,139   50,256 18,883
105,578   78,441 27,137
12,294   9,862 2,432
29,341   20,101 9,240
239,595   163,376 76,219
73,374   50,300 23,074
111,291   78,327 32,964
27,464   19,376 8,088
139,150   133,522 5,628
99,575   20,375 79,200
78,153   50,266 27,887
116,484   78,321 38,163
13,091   9,466 3,625
27,201   18,655 8,546
784   683 101
40,333   29,688 10,645
73,825   50,235 23,590
108,497   77,849 30,648
74,692   50,260 24,432
114,873   78,818 36,055
32,101   23,854 8,247
66,506   50,247 16,259
103,792   78,903 24,889
219,930   36,565 183,365
119   204 -85
527   616 -89
392   479 -87
71,955   50,240 21,715
49,359   35,454 13,905
108,085   79,219 28,866
95,621   100,000 -4,379
71,329   50,235 21,094
119,792   83,899 35,893
13,457   9,902 3,555
145,755   96,816 48,939
29,151   19,045 10,106
39,237   26,121 13,116
23,373   20,759 2,614
13,759   14,554 -795
33,829   10,856 22,973
95,413   74,021 21,392
61,103   45,714 15,389
67,658   18,833 48,825
77,028   50,239 26,789
119,986   78,622 41,364
25,775   18,543 7,232
44,057   40,423 3,634
38,550   35,809 2,741
38,550   39,175 -625
27,573   26,469 1,104
21,958   22,398 -440
69,838   50,267 19,571
105,747   78,029 27,718
14,507   10,088 4,419
108,684   100,005 8,679
21,737   23,879 -2,142
73,908   50,264 23,644
113,400   78,384 35,016
20,703   15,056 5,647
99,696   50,239 49,457
149,741   78,598 71,143
25,023   13,647 11,376
251,197   178,911 72,286
29,462   21,089 8,373
139,705   100,000 39,705
98,793   97,556 1,237
87,332   100,005 -12,673
64,114   75,000 -10,886
21,428   25,000 -3,572
69,509   50,259 19,250
105,300   78,147 27,153
13,649   10,042 3,607
147,278   133,569 13,709
103,158   100,797 2,361
5,170   5,040 130
60,703   50,270 10,433
94,590   78,506 16,084
16,140   14,128 2,012
200,662   150,776 49,886
55,763   41,857 13,906
11,263   8,384 2,879
69,008   50,229 18,779
109,194   81,973 27,221
33,185   23,567 9,618
185,361   130,631 54,730
31,308   21,564 9,744
183,785   142,414 41,371
21,976   15,063 6,913
59,490   50,256 9,234
92,757   78,239 14,518
19,084   15,064 4,020
55,387   50,704 4,683
27,693   16,584 11,109
35,000   37,105 -2,105
5,000   5,198 -198
15,000   15,000 0
73,124   65,317 7,807
18,174   16,491 1,683
57,150   50,265 6,885
7,736   7,008 728
50,000   52,122 -2,122
56,797   59,638 -2,841
85,526   85,967 -441
22,704   24,067 -1,363
22,180   22,044 136
140,931   125,000 15,931
78,777   70,000 8,777
61,887   55,000 6,887
15,051   16,947 -1,896
13,914   13,323 591
19,197   20,673 -1,476
53,671   50,208 3,463
27,981   26,387 1,594
100,000   104,142 -4,142
350,000   350,000 0
50,000   50,000 0
17,383   18,020 -637
5,000   5,000 0
5,000   5,000 0
200,000   184,291 15,709
263,280   232,853 30,427
244,850   248,675 -3,825
267,889   246,689 21,200
635,700   576,840 58,860
20,000   20,701 -701
25,000   25,000 0
10,000   10,000 0
71,947   75,390 -3,443
62,294   77,500 -15,206
38,375   47,500 -9,125
1,380   1,286 94
1,230   1,316 -86
1,309   1,270 39
2,730   2,524 206
      0
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       94
b       -86
c       39
d       206
e       406
      -107
      263
      735
      32,865
      48,361
      9,903
      15,248
      14,559
      5,476
      475
      23,145
      9,191
      1,004
      24,088
      -540
      8,405
      8,384
      48,244
      -7,560
      -6,682
      82,324
      1,170
      2,073
      12,330
      1,771
      14,319
      47,055
      24,089
      36,499
      7,893
      6,378
      262
      24,278
      31,804
      7,399
      16,556
      23,503
      4,733
      86,313
      8,798
      6,510
      4,289
      -1,207
      -610
      3,341
      -355
      -177
      -13,934
      38,653
      5,213
      32,163
      4,111
      34,239
      17,533
      20,449
      27,480
      39,254
      9,280
      6,917
      9,099
      4,816
      4,560
      3,148
      18,883
      27,137
      2,432
      9,240
      76,219
      23,074
      32,964
      8,088
      5,628
      79,200
      27,887
      38,163
      3,625
      8,546
      101
      10,645
      23,590
      30,648
      24,432
      36,055
      8,247
      16,259
      24,889
      183,365
      -85
      -89
      -87
      21,715
      13,905
      28,866
      -4,379
      21,094
      35,893
      3,555
      48,939
      10,106
      13,116
      2,614
      -795
      22,973
      21,392
      15,389
      48,825
      26,789
      41,364
      7,232
      3,634
      2,741
      -625
      1,104
      -440
      19,571
      27,718
      4,419
      8,679
      -2,142
      23,644
      35,016
      5,647
      49,457
      71,143
      11,376
      72,286
      8,373
      39,705
      1,237
      -12,673
      -10,886
      -3,572
      19,250
      27,153
      3,607
      13,709
      2,361
      130
      10,433
      16,084
      2,012
      49,886
      13,906
      2,879
      18,779
      27,221
      9,618
      54,730
      9,744
      41,371
      6,913
      9,234
      14,518
      4,020
      4,683
      11,109
      -2,105
      -198
      0
      7,807
      1,683
      6,885
      728
      -2,122
      -2,841
      -441
      -1,363
      136
      15,931
      8,777
      6,887
      -1,896
      591
      -1,476
      3,463
      1,594
      -4,142
      0
      0
      -637
      0
      0
      15,709
      30,427
      -3,825
      21,200
      58,860
      -701
      0
      0
      -3,443
      -15,206
      -9,125
      94
      -86
      39
      206
      0
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,888,256
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2013 17,168 17,336,401 0.000990
2012 933,677 15,920,715 0.058645
2011 612,996 13,339,770 0.045953
2010 578,301 10,485,914 0.055150
2009 525,195 10,195,880 0.051511
2 Total of line 1, column (d) ...................... 2 0.212249
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.042450
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 26,886,541
5 Multiply line 4 by line 3....................... 5 1,141,334
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 39,708
7 Add lines 5 and 6......................... 7 1,181,042
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,115,826
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2014)
Form 990-PF (2014)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 79,416
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 79,416
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 79,416
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 67,947
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 67,947
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 142
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 11,611
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletDANIEL M KELLY Telephone no.bullet (515) 221-1133
    Located atbullet3900 INGERSOLL AVE SUITE 300DES MOINESIA ZIP+4bullet50312
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    CARREN STURM DIRECTOR
    1.50     		3,200 0 0
    2161 NW 70TH AVE
    ANKENY,IA50023
    WESTON RITCHIE DIRECTOR
    1.50     		3,200 0 0
    181 38TH PLACE
    DES MOINES,IA50312
    BEVERLY APEL TREASURER & DIRECTOR
    1.50     		3,200 0 0
    3220 VALLEY RIDGE CT
    WEST DES MOINES,IA50265
    FRED LOCK SECRETARY & DIRECTOR
    1.50     		3,200 0 0
    309 E 5TH ST UNIT 505
    DES MOINES,IA50309
    ROBERT FANTER VICE PRESIDENT & DIRECTOR
    1.50     		3,200 0 0
    1655 S WILLOW DR
    WEST DES MOINES,IA50266
    DANIEL M KELLY PRESIDENT & DIRECTOR
    1.50     		4,400 0 0
    3900 INGERSOLL AVENUE STE 300
    DES MOINES,IA50312
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    26,431,473
    b
    Average of monthly cash balances.......................
    1b
    864,508
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    27,295,981
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    27,295,981
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    409,440
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    26,886,541
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,344,327
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,344,327
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    79,416
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    79,416
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,264,911
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,264,911
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,264,911
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,115,826
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,115,826
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,115,826
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 1,264,911
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012....... 140,123
    e From 2013.......  
    fTotal of lines 3a through e......... 140,123
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 1,115,826
    a Applied to 2013, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 1,115,826
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 140,123 140,123
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		8,962
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    CHRISTIAN CHURCH CONFERENCE CENTER
    5064 LINCOLN STREET
    NEWTON,IA50208     		NONE RELIGIOUS CHARITY GENERAL FUND 250,000
    CITY OF DES MOINES PARKS AND REC
    600 EAST COURT AVE SUITE 200
    DES MOINES,IA50309     		NONE GOVERNMENT ENTITY GENERAL FUND 50,000
    DES MOINES AREA COMMUNITY COLLEGE
    1100 7TH ST
    DES MOINES,IA50314     		NONE EDUCATION COMMUNITY SCHOLARSHIPS 51,945
    DES MOINES ART CENTER
    4700 GRAND AVE
    DES MOINES,IA50312     		NONE PUBLIC CHARITY GENERAL FUND 25,000
    DES MOINES OPERA
    106 W BOSTON AVE
    INDIANOLA,IA50125     		NONE PUBLIC CHARITY GENERAL FUND 50,000
    DES MOINES PUBLIC LIBRARY
    1000 GRAND AVE
    DES MOINES,IA50309     		NONE GOVERNMENT ENTITY GENERAL FUND 10,000
    DRAKE UNIVERSITY
    25TH AND UNIVERSITY AVE
    DES MOINES,IA50311     		NONE EDUCATION UNIVERSITY GENERAL FUND/SCHOLARSHIPS 25,000
    INDIAN HILLS FOUNDATION
    525 GRANDVIEW AVENUE
    OTTUMWA,IA52501     		NONE EDUCATION COMMUNITY SCHOLARSHIPS 72,025
    IOWA STATE UNIVERSITY
    2229 LINCOLN WAY
    AMES,IA50011     		NONE EDUCATION UNIVERSITY GENERAL FUND/SCHOLARSHIPS 176,813
    UNIVERSITY OF IOWA
    CALVIN HALL
    IOWA CITY,IA52242     		NONE EDUCATION UNIVERSITY GENERAL FUND/SCHOLARSHIPS 178,947
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		NONE EDUCATION UNIVERSITY SCHOLARSHIPS 175,643
    Total .................................bullet 3a 1,065,373
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		         
    4 Dividends and interest from securities....     14 1,143,355  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 2,888,256  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 4,031,611 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    134,031,611
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2014
    Name of the organization
    THE BRIGHT FOUNDATION
     
    Employer identification number

    42-6073848
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    THE BRIGHT FOUNDATION
          		Employer identification number

    42-6073848
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    LOIS BRIGHT MEMORIAL FUND  
    C/O DM KELLY CO 3900 INGERSOLL AVE
     
    DES MOINES, IA50312

    		$125


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    LOIS L BRIGHT TRUST  
    C/O DM KELLY CO 3900 INGERSOLL AVE
     
    DES MOINES, IA50312

    		$10,594,542


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
     
     

    LOIS L BRIGHT TRUST  
    C/O DM KELLY CO 3900 INGERSOLL AVE
     
    DES MOINES, IA50312

    		$250,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    THE BRIGHT FOUNDATION
          		Employer identification number

    42-6073848
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    2
    		 PUBLICLY TRADED COMMON STOCK & BONDS $ 10,816,289 2014-04-02
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    THE BRIGHT FOUNDATION
          		Employer identification number

    42-6073848
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2014 AccountingFeesSchedule
    Name:
    THE BRIGHT FOUNDATION
    EIN: 42-6073848
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 17,408 8,704 0 8,704

    TY 2014 InvestmentsOtherSchedule2
    Name:
    THE BRIGHT FOUNDATION
    EIN: 42-6073848
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SECURITIES - DM KELLY AT COST 27,141,798 29,260,198

    TY 2014 LegalFeesSchedule
    Name:
    THE BRIGHT FOUNDATION
    EIN: 42-6073848
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 6,359 3,179 0 3,180


    TY 2014 OtherExpensesSchedule
    Name:
    THE BRIGHT FOUNDATION
    EIN: 42-6073848
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LIABILITY INSURANCE 1,250 625 0 625
    OFFICE EXPENSE 1,797 898 0 899
    PUBLICITY AND LUNCHEON- BRIGHT SCHOLARS 2,050 0 0 2,050
    RECIPIENT MEDALS 18,052 0 0 18,052
    WEBSITE 880 440 0 440
    OTHER 1,125 562 0 563


    TY 2014 TaxesSchedule
    Name:
    THE BRIGHT FOUNDATION
    EIN: 42-6073848
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL INCOME TAX 32,571 0 0 0